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Required information (The following information applies to the questions displayed below.) Warnerwoods Company uses a perpetual inventory system. It entered into the following purchases and sales transactions for March Units Sold at Retail Units Acquired at Cost 90 units @ $50.80 per unit 220 units @ $55.80 per unit 250 units @ $85.80 per unit Date Activities Mar. 1 Beginning inventory Mar. 5 Purchase Mar. 9 Sales Mar. 18 Purchase Mar. 25 Purchase Mar. 29 Sales Totals 80 units @ $60.80 per unit 140 units @ $62.80 per unit 120 units @ $95.80 per unit 370 units 530 units 2. Compute the number of units in ending inventory. Ending inventory units Perpetual FIFO Perpetual LIFO Weighted Average Specific Id Compute the cost assigned to ending inventory using FIFO. Perpetual FIFO: Goods Purchased # of Cost per units unit Cost of Goods Sold Cost Cost of Goods Sold per unit # of units sold Date Inventory Balance Cost Inventory # of units per unit Balance 90 @ $ 50.80 = $ 4,572.00 March 1 March 5 March 9 March 18 March 25 March 29 Totals 4. Compute gross profit earned by the company for each of the four costing methods. For specific identification, the March 9 sale consisted of 60 units from beginning inventory and 190 units from the March 5 purchase; the March 29 sale consisted of 40 units from the March 18 purchase and 80 units from the March 25 purchase. (Round weighted average cost per unit to two decimals and final answers to nearest whole dollar.) FIFO LIFO Avg. Cost Spec. ID Gross Margin Sales Less: Cost of goods sold Gross profit

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